World
Putin’s ‘invasion of Ukraine’ takes its toll on world economy: Biden
The U.S. President Joe Biden said Tuesday that a big reason for inflation is Russian President Vladimir Putin and his “invasion of Ukraine”, Reuters reported.
The invasion is “driving up gas prices and food prices all over the world,” Biden said.
Pointing to the impact of Ukraine war on energy prices, he said he is doing everything to bring down the prices, Reuters reported.
“The war in Ukraine is going to continue to take its toll on the world economy. It is going to take its toll on energy, and it is going to take its toll on food,” he noted.
His remarks came at an event in Portsmouth, New Hampshire, where he delivered speech about the unprecedented investments in the bipartisan infrastructure law that will improve the country’s ports and waterways.
Biden also highlighted how these investments will strengthen supply chains, keep goods moving to help lower prices for working families, and enable the U.S. to compete globally, read the report.